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Facing a cautious market and clients tightening their purse strings, IT companies are adopting a strategy from startups and web commerce: creating a new C-suite role – the chief growth officer (CGO).
Apple on Monday will attempt to persuade doubters on its AI strategy after rivals raced ahead in adopting artificial intelligence. ChatGPT-style AI voraciously feeds off data and Apple will be at pains to fight the AI race while living up to its traditional position on safeguarding data privacy.
Ahmedabad's Hocco has secured fresh funding of Rs 100 crore (approximately $12 million). Led by the founding Chona family and existing investor Sauce VC, the round valued Hocco at Rs 600 crore. The deal also attracted angel investors like Bollywood filmmakers Ritesh Sidhwani and Farhan Akhtar. The company projects revenue to reach Rs 200 crore by March 2025.
A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.
Data centers in western and northern India are facing rising operational costs due to soaring temperatures. Firms like Yotta and CtrlS are using alternative cooling methods and renewable energy, while ESDS reports a 10-12% rise in power costs due to erratic grid supply. Several of these data centres are located in New Delhi, Haryana, Noida.